Vermont revenues in November continued to fall short of expectations

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MONTPELIER, Vermont — Vermont state revenues once again performed short of expectations in November, though the calendar may have had some influence on the numbers.

Administration Secretary Jeb Spaulding says the long Thanksgiving weekend likely meant general fund revenues were about $3 million less than they would have been. But that accounts for less than half the $6.72 million by which they missed their target for the month.

For the first five months of the fiscal year, general fund revenues have fallen more than $18.6 million below target — about 3.5 percent less than projected.

The state's largest source of revenue — the personal income tax — now has underperformed for every month since April.

Spaulding say the numbers provide more evidence to support the administration's recent push for budget cuts.

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